From
Diana G. Ortiz
Title
Resolution updating the City's Financial Management Policy
Presenter
Diana G. Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
The City's Financial Management Policy is a formally approved document that serves as the guidelines and parameters in developing the City's financial position. It is reviewed annually for necessary updates and presented to the Finance and Government Committee for consideration. The Finance and Government Committee reviewed this item and supports the edited policy change in accordance to state law.
Financial Consideration
There is no fiscal impact to this revision.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, AMENDING THE CITY'S FINANCIAL MANAGEMENT POLICY
Whereas, it is the goal of the City to maintain a long-term stable and positive financial condition; and
Whereas, well-planned and prudent financial management is essential to the achievement of the City's goal; and
Whereas, the Finance and Government Committee reviewed and supported the revision to the Financial Management Policy.
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas that:
Section 1. The City of Grand Prairie hereby adopts one policy section change (IMPACT FEES) to reflect current state law. Specifically, these fees will be re-evaluated at least every five years and will be assessed only for water and wastewater capital projects.
SECTION 2. That this resolution shall be in force immediately upon its passage in accordance with the Charter of the City of Grand Prairie and it is accordingly so resolved.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, JANUARY 10, 2017.